Unum Group (NYSE:UNM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of Unum Group (NYSE:UNM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $97.0833.

A number of equities analysts have commented on UNM shares. JPMorgan Chase & Co. dropped their price objective on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Unum Group in a research report on Monday, December 29th. Evercore ISI boosted their price objective on Unum Group from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of Unum Group in a research report on Monday, January 5th. Finally, Citigroup reiterated a “market perform” rating on shares of Unum Group in a report on Thursday, December 18th.

Read Our Latest Stock Report on Unum Group

Unum Group Stock Performance

NYSE:UNM opened at $79.79 on Friday. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.41 and a beta of 0.20. Unum Group has a 1 year low of $66.81 and a 1 year high of $84.48. The stock’s 50 day simple moving average is $77.13 and its two-hundred day simple moving average is $75.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.36.

Unum Group (NYSE:UNM – Get Free Report) last posted its earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). Unum Group had a net margin of 6.99% and a return on equity of 13.09%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business posted $2.13 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its board has approved a stock repurchase program on Thursday, December 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Unum Group

In other news, EVP Christopher W. Pyne sold 4,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $78.04, for a total value of $312,160.00. Following the sale, the executive vice president owned 51,372 shares of the company’s stock, valued at approximately $4,009,070.88. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Andrew Zabel sold 7,500 shares of Unum Group stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total transaction of $572,850.00. Following the transaction, the executive vice president directly owned 113,807 shares of the company’s stock, valued at approximately $8,692,578.66. This represents a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,400 shares of company stock worth $951,160 over the last quarter. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Several hedge funds and other institutional investors have recently modified their holdings of UNM. Norges Bank bought a new position in Unum Group in the 2nd quarter valued at $1,113,353,000. First Trust Advisors LP boosted its stake in shares of Unum Group by 4.0% during the third quarter. First Trust Advisors LP now owns 5,734,937 shares of the financial services provider’s stock valued at $446,063,000 after purchasing an additional 223,095 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Unum Group by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,777,880 shares of the financial services provider’s stock worth $293,837,000 after purchasing an additional 179,401 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Unum Group by 7.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,341,589 shares of the financial services provider’s stock valued at $271,862,000 after buying an additional 219,076 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Unum Group by 63.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,516,126 shares of the financial services provider’s stock valued at $195,704,000 after buying an additional 978,937 shares during the period. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Company Profile

(Get Free Report)

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.

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